Cash in the asset: Nokia may flog global headquarters in Espoo

Nokia is planning to sell off its global headquarters in Espoo, Finland, to plug its $1.8bn financial losses.

The mobile biz's chief financial officer Timo Ihamuotila told the Finnish daily Helsingin Sanomat that his fellow execs are investigating flogging the glass-and-metal Nokia House HQ, which was built in the 1990s. The company, which posted a €1.41bn (£1.1bn) loss in the last quarter, is finding ways to squeeze cash from its non-core assets.

"Investigations have involved the sale of the head office," Ihamuotila told reporters.

Nokia House. Credit: Google Street View

However Nokia won't be moving out of Espoo, stressed the company's top brass - bosses intend to sell the building and rent it from the new owners.

The Finnish newspaper Ilta-Sanomat said, without citing sources, that Nokia's building is worth between €200m and €300m. A Nokia spokesperson added: "We said during our Q2 results in July that we’re re-evaluating all non-core operations, including real estate. That said, we don’t have any plans to move our headquarters." ®